Ecological power of energy storage, clean fuel innovation, and energy-related research and development technologies

Abstract

A sustainable society and a sustainable environment require clean energy systems for progress. As a part of Sustainable Development Goal (SDG) 7, aimed at achieving sustainable development, clean energy is one of the most prominent strategies. In this context, technological advancements have a substantial impact on clean energy transition and make energy-related sustainable development initiatives important. The focus of the study is therefore on identifying the technological factors that facilitate sustainable development through clean energy. This study explores the impact of energy storage innovation, clean fuel innovation, and energy-related R&D expenditures on sustainable development. The empirical findings show that sustainable development is primarily driven by innovations in energy storage systems and clean fuels. However, energy-related R&D investments are ineffective in driving sustainable development. In light of these findings, the G7 countries should prioritize the development of energy storage systems and clean fuels as part of their energy and environmental agendas.